CATEGORIES

Forvia to trim 10,000 jobs to boost EV war with Asian firms

FORVIA SE IS poised to cut roughly 13% of its European workforce over the next five years with plans to tap artificial intelligence to better compete with Asian rivals in the shift to electric cars.

China’s premier urges action to boost confidence

CHINESE PREMIER LI Qiang called for \"pragmatic and forceful\" action to boost the nation's confidence in the economy, underscoring the government's concern with a struggling recovery and stock rout.

Israel's economy contracts 20% after outbreak of war

ISRAEL'S ECONOMY SUFFERED one of its worst-ever slumps, after the Hamas war paralyzed businesses, forced people to evacuate their homes and caused the military to call up hundreds of thousands of reservists.

Fino to expand leadership, boost deposits before conversion to SFB

FINO PAYMENTS BANK, which has applied to the Reserve Bank of India (RBI) for a small finance bank (SFB) licence in the third quarter of the current fiscal, will expand its top leadership team and add mid-tosenior level employees to focus more on growing its deposit base and cross-sell products, CFO Ketan Merchant told FE.

Big rejig in top leadership at Kotak Mahindra Bank

ASHOK VASWANI, THE newly-appointed managing director and chief executive of Kotak Mahindra Bank, on Monday announced some key leadership changes by elevating KVS Manian as the joint managing director and Shanti Ekambaram as the deputy managing director.

Paytm hits upper circuit for 2nd day

SHARES OF PAYTM-OPERATOR One 97 Communications surged to hit the upper circuit for the second consecutive session on Monday, following the beleaguered fintech giant's collaboration with Axis Bank for settling merchant payments.

Nifty hits record closing high despite FII pullout

EQUITIES GAINED FOR the fifth straight session as the benchmark Nifty scaled a lifetime high, both on the intra-day and closing basis. The India VIX a measure of market volatility rose more than 5% to settle over the 16-mark again.

ARC acquisition value may hit ₹10 trn by Mar

THE ASSET RECONSTRUCTION sector is expected to end the year on a positive note as the value of bad loans acquired by asset reconstruction companies (ARCs) is likely to touch the 10-trillion mark by the end of March.

Deepak Fertilisers signs 15-year LNG deal with Equinor

DEEPAK FERTILISERS AND Petrochemicals Corporation (DFPCL) on Monday said it has entered into a long-term supply agreement for liquefied natural gas (LNG) with global energy major Equinor. It is one of the largest contracts signed by the Norway-based company with a private sector firm in India.

Clear Credit Suisse dues by Mar 15: SC to SpiceJet

THE SUPREME COURT on Monday asked SpiceJet to settle a $1.5-million debt owed to Swiss firm Credit Suisse by September 15. \"There is no scope of belated payment. The respondent is not justified in saying so. The very fact that the respondent is in default is apparent from the dateline given,\" the SC observed.

Air India, TASL to invest ₹2,300 cr in Karnataka

Around 1,600 direct jobs likely

WhatsApp helpline to tackle deepfakes

META ON MONDAY said the company has joined hands with the Misinformation Combat Alliance (MCA) to launch a dedicated factchecking helpline on WhatsApp to combat deepfakes and AI-generated misinformation. The company will launch the helpline for the public in March.

Mitsubishi to ride on TVS for India vehicle sales foray

MITSUBISHI CORPORATION, A diversified Japanese conglomerate, will pick up a 32% stake in TVS Vehicle Mobility Solution (TVS VSM) for 300 crore to foray into India's vehicle sales business.

BSNL rolls out ₹65k-cr tender for BharatNet

STATE-OWNED BSNL HAS floated around 65,000-crore tender for the implementation of the phase-III BharatNet project, officials said. The tender is part of the ₹1.4-trillion revamped BharatNet project for design, supply, construction, installation of optical fibre cables, switches, routers and other telecom equipment to connect and upgrade existing 164,000 gram panchayats, as well as connect around 47,000 gram panchayats under the new model.

FMCG firms dial up ad spends

May grow in 04 too as increasing sales take precedence

ONGC’s Mumbai High: 50 years on, still going strong

INDIA'S FLAGSHIP AND largest oilfield Mumbai High was discovered on this day 50 years back and while most fields of that vintage have gone out of production, the field in the Arabian Sea is still going strong.

Old tax demand ceiling set at ₹1 lakh/assessee

IN ACCORDANCE WITH the Budget announcement, the Income Tax department prescribed a ceiling ₹100,000 per individual for withdrawal of small tax demands till Assessment Year (AY) 2015-16.

Modi launches projects worth ₹10 trillion in UP

PRIME MINISTER NARENDRA Modi launched 14,000 projects across Uttar Pradesh worth more than 10 trillion at the fourth ground-breaking ceremony here on Monday for investment proposals received during the UP Global Investors Summit.

Revised MGNREGS estimate may fall short of demand

PROVISIONING INADEQUATE FUNDS at the start of a financial year and raising it to meet the requirement at the revised estimate (RE) stage for the demanddriven Mahatma Gandhi National Rural Employment Scheme (MGNREGS) has become a practice in the last few years.

Connections under LPG scheme surpass 100 mn

THE NUMBER OF beneficiaries under the Pradhan Mantri Ujjwala Yojana, a scheme targeting the provision of subsidised LPG (liquefied petroleum gas) connections to poor households, has surpassed 100.1 million, according to the latest data released by the Petroleum Planning and Analysis Cell.

Reforms-linked ₹75K-cr loan to states after polls

Untied ₹55,000 crore capex loan likely to be available from April

Out-of-court insolvency fix for larger corporates soon

LARGE CORPORATES WILL soon have a facility for \"out-of-court\" insolvency resolution that will hinge on informal discussions among stakeholders and may not even require open bidding for selection of resolution applicants, official sources said.

Farmers offered assured MSP procurement of five crops

THE GOVERNMENT HAS made a slew of offers to the agitating farmers from Punjab and Haryana. It has proposed that stateowned agencies Nafed and NCCF will procure five crops cotton, maize, tur, urad and masoor - from these farmers at minimum support price (MSP) without any limit on volume, for the next five years.

JSW Steel eyes stake in Australian mine

SAJJAN JINDAL-LED JSW Steel is in talks to acquire a 20% stake in a coal mine owned by Australia's Whitehaven Coal, in a deal valued at $750 million-$1 billion.

Go First bidder banks on land monetisation

Revival blueprint also includes arbitral award money

Indian shuttlers win Asian title

WHEN THE PUBLIC rendition of the national anthem happened with the whole stadium at Shah Alam, Malaysia standing up for the women's badminton team in blue, India's 32 finals success over Thailand got imprinted in public memory.

Nazara ups its game on a rough pitch

EVEN AS IT charts a turnaround strategy, Nazara Technologies is looking to expand the gaming & e-sports production businesses overseas. Last week, its subsidiary Nodwin Gaming bought Ninja Global, an acquisition that will give the company a foothold particularly in the West Asian and Turkish markets.

Over 400 detained in Russia

OVER 400 PEOPLE were detained in Russia while paying tribute to opposition leader Alexei Navalny, who died at a remote Arctic penal colony, a prominent rights group reported.

EU plans to fine Apple about 500 mn over music services

THE EUROPEAN UNION is close to hitting Apple with its first-ever antitrust fine as well as a ban on App Store rules that the bloc believes thwart competition, according to the Financial Times.

FDI inflows into China fall to worst in 30 years

FOREIGN BUSINESSES' DIRECT investment into China last year increased by the lowest amount since the early 1990s, underscoring challenges for the nation as Beijing seeks more overseas investment to help its economy.